All great brands share the following fundamental qualities*:
They offer and communicate a clear, relevant customer promise
They build trust by delivering on that promise
They drive the market by continually improving the promise
They seek further advantage by innovating beyond the familiar
Sound easy? Maybe, or maybe not. Consistent messaging and a conscious effort to optimize these four characteristics takes time and an investment of resources. Brands like Apple, Philips and Unilever have understood this for decades. They demonstrate, by virtue of their longstanding success, that having a clear, unified corporate identity is critical to competitive strategy.
The Benefits of Branding are Numerous
They fall into what we call, the Five C’s of Branding:
1. Customer recognition (awareness)
2. Competitive advantage (differentiation)
3. Consumer loyalty (repeat business, shared values)
4. Credibility (deep connections, trust, and emotional connection enable long-term loyalty and word of mouth equity)
5. Communications driver (a strong brand is a word of mouth marketing engine, employee recruitment and retention tool, negative publicity buffer, and premium pricing facilitator)
Why is Branding so Important?
Nowadays, with the expansion of the digital universe, customers and prospects have more control than they used to. Customer conversations online, reviews, influencer messaging, and shared mentions contribute significantly to the brand’s aura and value. The customer is shaping the brand outside the control of the business itself. So brands must work hard to help contribute and manage the conversation. By providing an omni channel approach that includes initiatives such as strategic content building, social justice partnerships, smooth e-commerce functionality, and authentic marketing, brands help ensure their online dialogues remain positive. This also positions them well to address customer concerns as they arise.
Strong Branding has Many Advantages
Creating a dynamic brand that reflects the true nature of the business is critical in conveying the promise of what the business plans to deliver to its clientele. Branding with intention is paramount now more than ever, as customers have a growing impact on a business’ destiny. But with smart and dedicated resources, and a strategic eye for the future, businesses can successfully harness the power of their brands toward success.
Ready to assess your brand value and its power to move your business forward? Reach out to Brandmark Studios for a total brand audit and optimization recommendation today!